Reporting; Designation Sample Clauses
The "Reporting; Designation" clause establishes the requirements and procedures for providing information and formally identifying parties or roles within an agreement. Typically, this clause outlines how and when reports must be submitted, what information they should contain, and the process for designating individuals or entities responsible for specific tasks or communications. By setting clear expectations for reporting and designation, the clause ensures accountability and smooth coordination between parties, reducing the risk of misunderstandings or missed obligations.
Reporting; Designation. In connection with the identification of one or more Group II Exchanged Vehicles proposed to be redesignated to the Qualified Intermediary under an Exchange Program, the Master Servicer shall prepare the information for reporting on the Reporting Date and upon the exchange of Group II Exchanged Vehicles make the designations in the Master Servicer's computer system and, if necessary, instruct the Trustee in writing under items (c) and (f) below as to the following:
(a) the VIN and current Net Book Value of each proposed Group II Exchanged Vehicle;
(b) the VIN and Capitalized Cost or Net Book Value of each Vehicle, including Group II Replacement Vehicles, if any, to be designated as belonging to Group II and as related to the Financing Source and Beneficiaries in substitution for the proposed Group II Exchanged Vehicles;
(c) the amount of Substitute Group II Exchanged Vehicle Proceeds to be transferred from each Excess Funding Account for a Group II Series of Notes to the Collection Account for each such Series of Notes;
(d) the increase in Exchange Agreement Group II Rights Value to be designated to the Financing Source and Beneficiaries in substitution for the proposed Group II Exchanged Vehicles, and the amount by which Disposition Proceeds received in respect of Group II Exchanged Vehicles that had comprised Group II Collateral are less than the Net Book Value, (such amount, if positive to be treated as Losses under Financing Documents for Group II Series of Notes) of such Group II Exchanged Vehicles;
(e) a calculation setting forth the sum of items (b), (c) and (d) as at least equaling the aggregate Net Book Values of the proposed Group II Exchanged Vehicles under item (a); plus any Losses identified in item (d); and
(f) an instruction to the Trustee to make the transfers in item (c) above and to the Master Collateral Agent and Servicers on its behalf (pursuant to Section 2.7 of the Existing Agreement) to release its lien on the Group II Exchanged Vehicles and any Certificates of Title related thereto at the time of the transfers and designations in items (b), (c) and (d) above. Upon satisfaction of the foregoing, the Master Servicer shall designate the substitute Vehicles, including Group II Replacement Vehicles, and Exchange Agreement Group II Rights Value in its computer system as Group II Master Collateral related to the Financing Source and Beneficiaries tendering the Group II Exchanged Vehicles, while simultaneously designating the Group II Excha...
Reporting; Designation. In connection with the identification of one or more Exchanged Vehicles proposed to be redesignated to the Qualified Intermediary under an Exchange Program, the Master Servicer shall prepare the information for reporting on the Reporting Date on a Group by Group basis and upon the exchange of Exchanged Vehicles make the designations in the Master Servicer’s computer system and, if necessary, instruct the Trustee under item (vi) below as to the following:
(i) the YVIN and current Net Book Value of each proposed Exchanged Vehicle;
Reporting; Designation. A Designation of Person Responsible for Tax Reporting under Internal Revenue Code Section 6045 designating the Company or the Company's counsel as the party responsible for making the returns required under Internal Revenue Code Section 6045.